5 Negotiating tips to make sure you get the best house price

When buying a home, you can expect to negotiate with the seller or estate agent for a better price. In fact, many homes end up selling below the asking price, since most sellers ask for slightly more than market value to account for negotiations. Your ability to negotiate could have a huge impact on whether or not you pay the best possible price for your property. Here are some tips to help prepare you for this part of the home buying process.

1. Don’t be afraid to negotiate

While asking for a better deal may seem awkward at first, it is completely normal to haggle for a house price. The reality is that haggling and negotiating happens regularly in the real estate business, and many homes sell below asking price every day. Most sales people are not offended by you asking for a better price, and it is often quite the opposite, as this signals your interest in buying the property. However, it is crucial to ask politely and avoid any hostility and confrontation during negotiation.

2. Research the local …

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Is it Expensive to own a house in Ireland?

Dreaming of owning a house in perhaps one of the best tech countries in the making? The yearly rate of house owning in Ireland has finally fallen to less than one percent as the cost of owning houses has been continuously falling. In Ireland, you must conduct the majority of your property searching on your own. Real estate agents will only display you homes that they have listed, not those that have been listed by other agents.

Once you’ve narrowed down your desired area, start looking in local newspapers and internet. Create searching notifications to get notified as soon as homes matching your requirements become available. You must also contact and enroll with properties for sale agents in your desired region. A property assessment should be a condition of any purchase you place on the property. Because the seller in Ireland would be under no duty to reveal faults in a property, you should just get a full survey to see whether there are any before completing the purchase. Certified auditors in Ireland are represented by the Association of Certified …

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5 Features that make a profitable Rental Property

Investing in a residential rental property can be a great and profitable way to boost your investment portfolio. However, real estate is a tough business. For this reason, it’s important to do detailed research on the pros and cons of real estate investing before buying your first property.

It is important to start your search for property before bringing an agent into the picture, as they may pressure you to an investment that is not best suited for you. During this preliminary research, you’ll want to narrow down several key characteristics you are looking for in your property, such as size, location and amenities. In this article, we will discuss 5 key features to look for to ensure that your real estate investment is a profitable one.

1. Know Your Neighborhood

The location of your property is one of the most important things to consider. Knowing which type of neighborhood you are investing in will determine the type of tenants you will attract, as well as your vacancy rates. For example, if your property is near a university, then you …

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What you need to know about buying a house that needs renovations in Ireland

Are you buying a house that needs renovation? Do you have a way of funding the renovations? In Ireland, there are many different ways of funding renovations. These include taking out a credit union loan or a bank loan after completing the purchase of the property. If you do not want to incur high loan interest rates, you may opt to save some money and gradually do renovation once you move into the new house. Additionally, you can also borrow money for the renovation as part of the mortgage. 

Before you think of all these, is the house habitable? Does the bathroom, kitchen and heating work? If it is not habitable, the only option you have is getting the mortgage provider to lend you the money to renovate. It is important to note that you will not be given a mortgage on a house that you cannot live in with the claim that you plan on renovating at a given point in time. In Ireland, there are two types of house renovation. These include, structural and non-structural renovations. Both …

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How to Successfully Buy a Property at Property Auction

With the current high number of buyers and shortage of property in Ireland, many people are looking for various ways to get into the property market. Purchasing property at property auctions, especially through the internet, is now more prevalent than ever before. Despite this being the case, it is important that you become aware of the issues that may arise during property auctions.

With the recent COVID-19 pandemic, online property auctions have grown to be a popular way of buying and selling property in Ireland. What many people do not know is that buying at auction is completely different from buying a property from an agent. 

The first thing that could go wrong when buying at auction is that when the hummer falls, you will have to sign the property’s binding contracts and make a deposit of 10 percent of the property’s purchase price. Therefore, if you are getting a mortgage, you have to ensure that you apply, and of course,  get a mortgage before the day of the auction. This is sometimes a lengthy process. After making the …

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5 Things to Consider when Viewing a House in Ireland

As a first time buyer, viewing houses can be exhausting. There are countless things to consider, such as the layout of the home, the location and nearby schools, and much, much more. This can be a bit overwhelming when viewing open houses, as there is so much to observe you might miss some key details about the property. In this article, we will discuss 5 key things to observe and be aware of when viewing houses, so your dream home doesn’t turn into a nightmare.

1.How long has the property been on the market?

The first question you should ask the estate agent is how long the property has been on the market. If a property has been on the market for more than a few months and still isn’t selling, there’s usually a reason why. While this could come down to a number of things, from price to hidden structural issues to low demand, this is a good gauge of potential red flags.

2. Account for renovation

Many people make the mistake of buying houses that appear to be …

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Mortgage Broker vs. Bank: What’s the Difference?

Buying a house is one of the most important decisions of your life, which is why you need to make sure you pick the right lender when applying for a mortgage. However, there are many different types of lenders, each offering different products and rates for your mortgage, so it can get overwhelming. 

 

The first type of mortgage lender is a Direct Lender. A direct lender is a financial institution that originates, processes, and funds the loan all by itself. In other words, the company you work with is the one loaning you the money. Direct Lenders include big banks like Bank of Ireland, credit unions, and specialized financial companies that deal primarily with home loans and mortgages. An example of a specialized mortgage company like this is Quicken. 

 

The second type of mortgage lender is a Mortgage Broker. A broker is the “middleman” that helps you find the best possible rate for your home loan. Brokers work with multiple mortgage companies and compare rates to find the best lender for your specific situation. 

 

Now that …

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Irish Economy Poised for Huge Rebound as Restrictions are Lifted

Consumer and Business sentiment is growing in Ireland following the loosening of covid restrictions. 

 

For May 2021, the Bank of Ireland Economic Pulse, a metric that combines the result of the Business and Consumer pulses, came in at 89.5. This is 4.1 points higher than last month, and 45.6 higher than a year ago. This is the fourth straight month that the Economic Pulse has increased, and it comes after a series of covid-19 related restrictions were loosened or lifted. In May, restrictions on social interactions were lifted, and several sectors emerged, at least partially, from lockdown. These sectors include the remainder of construction, personal services, and non-essential retail (by appointment only), with many other sectors getting ready to re-open. 

 

This rising sentiment, combined with the expectation that lockdown measures will be loosened further in the coming months, has brought the Economic Pulse Index back above its pre-pandemic levels for the first time. This has led Bank of Ireland to revise its GDP forecast to 5.8%, up from its earlier estimate of 5%.  

 

The Housing market …

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Who is buying houses in Ireland for cash? A look at cash buyers in 2021

With fewer homes entering the housing market, and a large amount of demand that is being unmet due to that, the Irish government incentives like “Help to Buy” have only just started to affect rising forecasted housing prices in 2021. But even so, there has been little effect in the market by people that are known as “cash buyers”.

Cash Buyers may not be the people that first come to mind. They’re not exactly the people that pay upfront the entire mortgage, because let’s be realistic, who has ever done that? Cash buyers are investors, and their acquisitions are mostly funded by debt in terms of purchasing power. This is where they get the name “cash buyers” from. Despite the pandemic in 2020, these cash buyers were still highly active in the market. Statistics show that over 1.75 billion euro were invested by investors from European property firms like the LRC. While, it was still down from 2019 when it was pre-pandemic times, where the overall investment was 2.5 billion euro, there was still a significant amount of money being …

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